New Global Provides Positive Colombia Update

NEWS RELEASE

New Global Provides Positive Colombia Update

Vancouver, British Columbia, May 31, 2010... Further to its press release of May 3, 2010, New Global Ventures International Ltd. (the “Company”) is pleased to provide an update on recent positive developments in the Angostura – California Mining District. New Global’s “El Primo” project is contiguous to Greystar’s Angostura deposit.

Greystar Resources Ltd. (TSX:GSL)(AIM:GSL) today announced that further to its news releases dated April 29 and May 21, 2010 the Company has received a positive decision in regard to the Company's appeal with the Ministry of the Environment, Housing and Territorial Development (MAVDT) to reinstate its December 22, 2009 Environmental Impact Assessment (EIA).

On May 28, 2010, the company received a decision from MAVDT that reverses its April 20 letter and reinstates the Dec. 22, 2009, EIA as filed. MAVDT will move forward with a review of the EIA.

Greystar is in the midst of completing a Definitive Feasibility Study (DFS) on the Angostura project that is expected to be published in the second half of 2010. In addition, the Company has begun the process of securing US$650 million in project finance from international sources. The Company continues to carry out exploration at the project with a total of six drill rigs focused on three targets; Angostura high grade, Mongora and La Plata.

“We have remained confident that the Ministry of the Environment, Housing and Territorial Development would come to a decision that continues to foster a safe, and positive environment for foreign direct investment in Colombia,” said Mr. Mark Lawson, New Global Ventures International Ltd. President and CEO, “we are also preparing to commence our summer exploration programs on our previously announced projects.”

ON BEHALF OF THE BOARD (sgd.) “Mark Lawson”, President & CEO

Suite 600 – 595 Howe Street, Vancouver, British Columbia, V6C 2T5 Telephone: (604) 893-8838 Facsimile: (604) 662-3904 For further information please contact:

Jeremy Ross Tyler Ross Corporate Development T: 604-893-8838

Mark Lawson President & CEO T: 416-623-0565

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.